With Grayscale set to launch its XRP Trust investment product soon, but the XPR price stuck close to major moving averages in the $57 area, XRP holders are turning to a new ICO that might be able to deliver faster gains.
XRP popped 5.2% higher on Thursday amid news of Grayscale relaunching its XRP Trust, after it shuttered the investment offering back in 2021 due to regulatory uncertainty.
But XRP has failed to break above key resistance levels in the form of its 50 and 200DMAs in the $0.55-57 area.
That has lead to fears growing that the Grayscale announcement might not end up being a positive catalyst for the market.
With XRP down over 7% year-to-date, per CoinMarketCap, the crypto has been an underperformer out of the major names.
By contrast, Bitcoin (BTC), BNB (BNB) and Solana (SOL) are up between 30-76% so far this year, despite pulling well back from recent highs.
XRP might be tempted to jump ship to an alternative major crypto with a better performance track record.
Alternatively, some XRP holders might be tempted by high-potential projects in the ICO market, with one new ICO in particular attracting a lot of attention recently.
The new ICO in question is called Shiba Shootout (SHIBASHOOT), a fun Wild West Shiba Inu-themed play-to-earn game.
Here’s everything you need to know about this new ICO with big potential.
New ICO Shiba Shootout – Is It the Right Move?
Shiba Shootout is already making waves in GameFi, with its play-to-earn game already available on the Apple App Store and in Google Play.
And to fund its ongoing development, Shiba Shootout has launched a new ICO of its native SHIBASHOOT token.
The presale has been a blockbuster success, raising over $1.1 million in early investment.
The new ICO’s success shouldn’t come as too much of a surprise, given dozens of popular crypto analysts have come out to back the token.
Popular presale analyst Jacob Crypto Bury thinks the coin has 10x potential in a recent YouTube video.
ClayBro, meanwhile, told his 130,000 YouTube subscribers that he thinks the token has a shot at an eventual Binance listing.
As ClayBro notes in the above video, SHIBASHOOT is also one of the top passive income gems in crypto right now.
20% of the new ICO’s supply has been reserved for presale investor staking rewards.
And this is helping to power an annual staking yield of 851%. At that rate, a presale investor could double their SHIBASHOOT bag in just a few short weeks.
SHIBASHOOT – One Not to Miss
A truckload of P2E utility, strong presale momentum and one of the highest yields in crypto suggest the SHIBASHOOT token launch could be explosive.
Interested investors are encouraged to move fast so as not to miss the presale.
They must remember to do their own research and not risk more than they can afford to lose.
But new ICO Shiba Shootout could be one of the best presales of 2024.
Joining the new ICO is easy. Investors need only connect their web3 wallet on the Shiba Shootout website and purchase the token with ETH, USDT, BNB.
Bank cards are also accepted.
Visit Shiba Shootout Now
The post As Grayscale Trust Nears, XRP Holders Are Betting on This New ICO – Is It the Right Move? appeared first on Cryptonews.
